VCs are like the house in Las Vegas - they try to make lots of bets and take a disproportionate share of equity, so they usually make money (but not always). M

VCs are like the house in Las Vegas - they try to make lots of bets and take a disproportionate share of equity, so they usually make money (but not always). Most just follow the lead of VCs who do know what they are doing (in picking good companies).